Cobra 2010 Annual Report Download

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2010 ANNUAL REPORT9

Table of contents

  • Page 1
    9 2010 ANNUAL REPORT

  • Page 2
    ...through Performance Products Limited, a United Kingdom-based wholly owned subsidiary with a well-established network of mass merchandisers and specialty retailers. Cobra is headquartered in Chicago, Illinois with international offices in Dublin, Ireland and Hong Kong. NET SALES In thousands EBITDA...

  • Page 3
    ... 2010 ANNUAL REPORT Financial Highlights (In thousands, except per share amounts) Percent Increase (Decrease) 2010 2009...) 5.0% 13.2% 149.0% 36.1% -28.3% 115.4% About the Cover (7750 PLATINUM) Cobra's new 7750 PLATINUM Professional As of December 31: Total assets Bank debt Shareholders' equity ...

  • Page 4
    ... that have been embraced by our customers, our consumers and the media. Many examples appear on the following pages of this annual report but let me highlight just a few: c Cobra iRadar™, the first and JIM BAZET CHAIRMAN OF THE BOARD, PRESIDENT AND CEO Mac|Life Magazine as the Most Innovative...

  • Page 5
    3 2010 ANNUAL REPORT In addition to these testimonies to our continued product development successes, Cobra also introduced a new line of radar detectors and announced the launch in 2011 of our newest Citizens Band radio. At 2011 CES, we introduced a Cobra iRadar system for Androidâ„¢ smartphones....

  • Page 6
    ... Celebrating Cobra Electronics' 50th Anniversary at the International Consumer Electronics Show (CES) 2011 in Las Vegas, the Company showcased and demonstrated over 65 new products for the first time. Cobra's 7750 Platinum Nav Systems for professional drivers received multiple awards in 2010.

  • Page 7
    5 2010 ANNUAL REPORT year in review 2010 In five decades, Cobra has come a long way from its humble beginnings as a television repair shop in a garage in northwest Chicago. Today, with offices in four countries, 152 employees worldwide, countless industry awards and accolades, Cobra Electronics ...

  • Page 8
    ... Rating and Trucking Test Award from Trucking Magazine. Merging Smartphones, Apps and Cobra Technology Today's consumers are connected and use their mobile phones to better manage their daily activities. In 2010, Cobra brought its technologies to the next level by facilitating connections and new...

  • Page 9
    ...2010 ANNUAL REPORT INDUSTRY FIRSTS IN MULTIPLE MARKETS continued to grow its AURAâ„¢ Camera and Driving Hazard Database. In 2010, the coverage was expanded to include all 50 states and Canada with more accurate locations of known speed traps and other immediate threats. Also in 2010, Cobra... Cobra's...

  • Page 10
    8 COBRA ELECTRONICS CORPORATION Consolidated Statements of Operations (In thousands, except per share amounts) Years Ended December 31 2010 2009 2008 Net sales Cost of sales Gross profit Selling, general and administrative expense Impairment of goodwill Earnings (loss) from operations Interest ...

  • Page 11
    ...2010 ANNUAL REPORT Consolidated Balance Sheets (In thousands, except per share amounts) At December 31 2010 2009 Assets Current assets: Cash Receivables, net of allowance for claims and doubtful accounts of $186 in 2010...Total shareholders' equity - Cobra Non-controlling interest Total shareholders...

  • Page 12
    10 COBRA ELECTRONICS CORPORATION Consolidated Statements of Cash Flows (In thousands) Years Ended December 31 2010 2009 2008 Cash Flows From Operating Activities: Net earnings (loss) Adjustments to reconcile net loss to net cash ï¬,ows from operating activities: Depreciation and amortization ...

  • Page 13
    11 2010 ANNUAL REPORT Quarterly Financial Data (Unaudited) (In thousands, except per share amounts) Quarter Ended March 31 2010 2009 2010 June 30 2009 September 30 2010 2009 December 31 2010 2009 Net sales $ 21,083 $ 19,085 Gross profit 5,850 5,062 Net (loss) earnings (1,317) (1,616) Net (loss)...

  • Page 14
    12 COBRA ELECTRONICS CORPORATION Five Year Financial Summary (In thousands, except per share amounts) Years Ended December 31 2010 2009 2008 2007 2006* Operating Data: ...auditor's report that expressed an unqualified opinion (dated March 15, 2011) are included in the Company's Annual Report on ...

  • Page 15
    ... (852) 2369 0211 Fax (852) 2724 4875 Annual Meeting You are cordially invited to Cobra Electronics Corporation's annual meeting of shareholders to be held on Tuesday, May...Fax 0870 787 1700 Summary Annual Report This report is in a summary format. It is intended to present 2010 results in a simple, ...

  • Page 16
    8 COBRA ELECTRONICS CORPORATION